DXY looks offered and revisits the 103.00 region pre-Fed. (Pivot Orderbook analysis)
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- DXY looks offered and revisits the 103.00 region pre-Fed.
- The loss of 103.00 could spark a deeper correction near term.
The pair currently trades last at 103.17.
The previous day high was 103.52 while the previous day low was 103.0. The daily 38.2% Fib levels comes at 103.2, expected to provide resistance. Similarly, the daily 61.8% fib level is at 103.32, expected to provide resistance.
DXY extends the weekly leg lower and retests the 103.00 neighbourhood, where some decent contention appears to have emerged so far.
The bearish mood appears unabated for the time being. Against that, there is a minor support at the weekly low at 102.58 (February 14), while the loss of this region could spark further losses to the 2023 low near 101.80 (February 2).
Looking at the broader picture, while below the 200-day SMA, today at 106.61, the outlook for the index is expected to remain negative.
Technical Levels: Supports and Resistances
EURUSD currently trading at 103.17 at the time of writing. Pair opened at 103.22 and is trading with a change of -0.05 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 103.17 |
| 1 | Today Daily Change | 29.00 |
| 2 | Today Daily Change % | -0.05 |
| 3 | Today daily open | 103.22 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 104.51, 50 SMA 103.45, 100 SMA @ 104.31 and 200 SMA @ 106.82.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 104.51 |
| 1 | Daily SMA50 | 103.45 |
| 2 | Daily SMA100 | 104.31 |
| 3 | Daily SMA200 | 106.82 |
The previous day high was 103.52 while the previous day low was 103.0. The daily 38.2% Fib levels comes at 103.2, expected to provide resistance. Similarly, the daily 61.8% fib level is at 103.32, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 102.98, 102.73, 102.46
- Pivot resistance is noted at 103.49, 103.76, 104.01
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 103.52 |
| Previous Daily Low | 103.00 |
| Previous Weekly High | 105.11 |
| Previous Weekly Low | 103.44 |
| Previous Monthly High | 105.36 |
| Previous Monthly Low | 100.81 |
| Daily Fibonacci 38.2% | 103.20 |
| Daily Fibonacci 61.8% | 103.32 |
| Daily Pivot Point S1 | 102.98 |
| Daily Pivot Point S2 | 102.73 |
| Daily Pivot Point S3 | 102.46 |
| Daily Pivot Point R1 | 103.49 |
| Daily Pivot Point R2 | 103.76 |
| Daily Pivot Point R3 | 104.01 |
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